Spanish Broadcasting System Radio Revenues Fall In Q2
August 16, 2010 at 4:26 AM (PT)
SPANISH BROADCASTING SYSTEM second quarter overall revenue fell 3% to $35.837 million, with radio off 4% to $31.823 million while television rose 4% to $4.014 million. The company said a fall-off in national sales led to the radio revenue decline, with only the SAN FRANCISCO and PUERTO RICO bucking the trend.
Operating income rose 20% to $11.3 million, attributed to a decrease in station operating expenses; Operating income before depreciation and amortization, loss (gain) on the disposal of assets, net, and impairment of assets and restructuring costs increased 16% to $12.8 million.
Chairman and CEO RAUL ALARCON, JR. said, "During the second quarter, we continued to focus on aggressively managing our costs given the improving, but volatile advertising environment. The double digit increase in our operating cash flow reflects our ongoing efforts to drive further efficiencies across our operations, while continuing to prudently invest in our content and sales resources. Looking ahead, we remain focused on building our brands, increasing our audience reach across our radio, television and online properties and maximizing our share of advertising revenues in each of our markets."